Headquarters Beijing, China | Founded 1992 | |
Subsidiaries Duoyuan Global Water Conservation Equipment (China) Co., Ltd. | ||
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Duoyuan Global Water (NYSE: DGW) is a China-based company that specializes in manufacturing water and waste water treatment equipment. Duoyuan has been around since 1992, providing over 100 types of products and treatment solutions for municipal, industrial, residential and agricultural water systems. Over two decades ago, Duoyuan created the first water treatment apparatus in China, and it has since won awards for its important products and treatment mechanisms.
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History
Founding of Duoyuan.
Manufacturing facility built in Beijing.
Began production of pure water equipment.
Manufacturing facility built in Langfang.
Began production of sewage and waste water equipment.
Established first postdoctoral water treatment and R&D center.
Duoyuan Global Water, Inc. becomes the only water treatment equipment manufacturing company from China listed on the New York Stock Exchange, with an initial public offering on June 29 of $16.00 per share.
Duoyuan has announced the resignation of four members of the company's Board of Directors amidst allegations of fraudulent internal company controls. Duoyuan has engaged international law firm Baker & McKenzie and an international accounting firm to conduct an internal investigation and review of the company.
Although Duoyuan Global Water has been accused of securities fraud in a class action lawsuit against the company, this is still in litigation and no formal ruling has been made yet. "We are optimistic that the newly appointed Special Investigation Committee will be able to work quickly towards a thorough and an early completion of their investigation," stated Mr. Wenhua Guo, the newly appointed chairman of the Board of Directors.